United States tax revenues hit a record high of almost $2.5
trillion (inflation adjusted and despite a first calendar quarter GNP that contracted by almost 3%) in the first ten months of fiscal 2014 … yet our spendthrift government still ran a
deficit of over $460 billion for this same period … see: CNS News Item (including an interesting chart). Just extrapolating these income and spending
rates would put the U.S. on track for a full year deficit of $553 billion. This
compares unfavorably with an earlier Congressional Budget Office deficit
projection of $514 billion … see: CNN Money Story.
Possibly a reason for this increased shortfall might be that
just in the first three days of President Obama’s Martha’s Vineyard vacation our deficit
grew by $7.6 billion (that’s $925 billion on an annualized basis) … see: Breitbart Item.
Then again, I do hear that the green fees are pretty steep at
the Farm Neck Golf Club on the Vineyard.
